2023 TOP to GNF Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 TOP to GNF Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the TOP to GNF exchange rate experienced significant fluctuation. The market reached its absolute peak on January 27, valuing the pair at 3805.4054. Conversely, the yearly low was recorded on October 28, dropping to 3558.8350.
This high-to-low spread represents a total annual volatility of 246.5705 GNF. From a start-to-finish perspective, comparing the January average rate of 3720.3475 to the December average rate of 3660.7202, the exchange rate registered a net change of -1.60% (reflecting a weakening trend).
Looking at year-over-year peak valuations, the 2023 high of 3805.4054 was down 7.34% compared to the 2022 peak of 4106.8669, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 TOP based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
TOP to GNF Seasonal Trends & Volatility Analysis
A structured review of seasonal halves, trading extremes, consecutive streaks, and historical baselines.
Seasonal Halves (H1 vs H2)
SeasonalThe average exchange rate in the first half of the year (H1: Jan–Jun) was 3674.9864, compared to 3623.5512 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 51.4352 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was March, with a trading range of 135.2782 GNF (High: 3733.1636 / Low: 3597.8854). On the other end, September was the most stable month, with a tight range of 43.4968 GNF (High: 3620.5815 / Low: 3577.0846).
Growth Streaks & Declines
TrendsBetween April and July, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 3 straight months. Conversely, the sharpest month-over-month decline occurred between July and August, when the average rate fell by 44.7578 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (January 2023: 3720.3475) against the same month in 2022 (average: 3997.2755), the exchange rate shifted by -276.9280 (-6.93%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 3805.4054 | 3681.0685 | 3720.3475 |
| February | 3765.7128 | 3645.4755 | 3699.0858 |
| March | 3733.1636 | 3597.8854 | 3661.8883 |
| April | 3691.5400 | 3599.7273 | 3654.5553 |
| May | 3683.9591 | 3613.1935 | 3656.1614 |
| June | 3689.7614 | 3608.0432 | 3657.8804 |
| July | 3700.3709 | 3606.1848 | 3665.5616 |
| August | 3672.0065 | 3589.8003 | 3620.8039 |
| September | 3620.5815 | 3577.0846 | 3598.6059 |
| October | 3618.2499 | 3558.8350 | 3587.5913 |
| November | 3648.6657 | 3567.7352 | 3608.0243 |
| December | 3696.3127 | 3634.7689 | 3660.7202 |